Once accepted, you're covered
There are some simple health and lifestyle questions to answer, but as soon as your application is approved, you're covered.
Length of cover
Your Life Cover insurance policy will continue to cover you for as long as you want it to.
Early payment for terminal illness
If you're diagnosed with a terminal illness you'll receive your life insurance payout early - so you can use it in the time you have left.
Money is paid tax-free
You'll receive a full lump sum payout. There is no income tax paid on the policy payout so you will receive the total amount you’re covered for.
$10,000 early payout
We understand the immediate financial strain that a funeral may bring about for your loved ones. Life Cover takes care of this with the option to have $10,000 paid out early to help cover immediate funeral costs.
You can nominate a joint owner
This can be your partner, spouse or anyone you wish. When you die, the payment will be made directly to them instead of your estate, making the money quickly available.
Annual premium review
Your Life Cover insurance will be adjusted once a year to ensure your cover amount keeps pace with inflation; premiums are also reviewed annually to account for the change in your cover level and in your age.
Easy application process
No lengthy, complicated forms or medical tests to complete. Choose the way to apply that suits you - online, over the phone or at your nearest AA Centre.
30-day no-obligation review
You enjoy a 30-day no-obligation review - if it's not what you expected or you change your mind we'll cancel your policy and refund any premiums paid.
What isn't covered
Any death as a result of participating in a criminal or illegal act is not covered by this policy. Death by suicide is not covered for the first 13 months of cover as well as death at any time as a result of HIV or AIDS. Some hazardous activities and sports are not covered. This policy also won’t cover you for death which occurs as a result of being in a country or region deemed ‘Extreme’ or ‘High’ risk by the New Zealand Government. Please see the Life Cover policy document for a full list of exclusions.
Premiums can be paid fortnightly, monthly (direct debit and credit card only), quarterly, half-yearly or annually by direct debit, credit card or cheque.
How to make a claim
You, or the person looking after your affairs, will need to contact us on 0800 808 175 to inform us of your illness or death so we can start the claim process. For a claim on the Terminal Illness Benefit, we'll need your doctor's contact details, so we can confirm your prognosis. We'll also need the completed claim form.
For a death claim, we'll need the date of death, cause of death and contact details for the administrator of your estate, e.g. solicitor or a family member. We'll contact the administrator of the estate for any further information needed to process the claim, such as:
- the completed claim form
- the death certificate
- your will (if you have one) - this will not be required if you have selected a second owner
- any medical information
We may also require Probate or Letters of Administration (legal documents required if you have more than $15,000 worth of cover going to your estate).
Once these documents are received and the claim is accepted, it will be settled immediately. The payout will go to your estate or second owner (the person you've chosen to receive the payment).